"OPEC wanted the oil prices to be between $80-90 and they succeeded in doing that. Talks about its fading influence have been around since the shale gas revolution, but it has the ability to sway the markets," said Prashant Vashisht, vice president and co-head, Icra.
The grouping went into a price war with Russia during the Covid pandemic in 2020, brought Russia back to the table and prices were stabilised. They are increasingly active in meeting, monitoring and managing with an eye on the markets, which was not so regular earlier, he added.
The Organization of the Petroleum Exporting Countries (OPEC),an initial group of 13 nations, added another 10 oil exporting countries, including sia, in 2016 under the banner OPEC+ to support the oil price after a sharp decline from mid-2014 to early 2016.
Diese Geschichte stammt aus der April 18, 2023-Ausgabe von Financial Express Mumbai.
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Diese Geschichte stammt aus der April 18, 2023-Ausgabe von Financial Express Mumbai.
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